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As of Oct 1 2022 - Canada dropping all Covid-19 border restrictions #289071
09/26/2022 04:37 PM
09/26/2022 04:37 PM
Joined: Sep 2021
Posts: 161
Ontario Canada
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Dr Phil SXM Offline OP
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Dr Phil SXM  Offline OP
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Joined: Sep 2021
Posts: 161
Ontario Canada
Finally, as of Oct 1 2022, SXM to Canada. 🇨🇦 No more Covid-19 travel restrictions .

ArriveCan App not necessary
No mandatory masks on planes or at airports
No random covid-19 testing upon arrival at border
No quarantines
No required proof of Covid-19 vaccination upon entry

This will make traveling back and forth to SXM much easier.

Drphilsxm

https://beta.ctvnews.ca/national/politics/2022/9/26/1_6084119.amp.html

SXM Sponsors
Re: As of Oct 1 2022 - Canada dropping all Covid-19 border restrictions [Re: Dr Phil SXM] #289074
09/26/2022 05:04 PM
09/26/2022 05:04 PM
Joined: Mar 2020
Posts: 306
Niagara Region Ontario Canada
Whale Tail Offline
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Whale Tail  Offline
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Posts: 306
Niagara Region Ontario Canada
Hooray. We have 2 trips booked in the next 6 months and this makes it easier. dance

Re: As of Oct 1 2022 - Canada dropping all Covid-19 border restrictions [Re: Whale Tail] #289075
09/26/2022 05:09 PM
09/26/2022 05:09 PM
Joined: Sep 2022
Posts: 11
Vancouver Island, BC, Canada
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CaribbeanCanadians Online content
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CaribbeanCanadians  Online Content
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Joined: Sep 2022
Posts: 11
Vancouver Island, BC, Canada
We heard the news today, fantastic, way less stress. We are booked for eight weeks from mid December to mid February.
Now, if our CAD would go back up.

Re: As of Oct 1 2022 - Canada dropping all Covid-19 border restrictions [Re: CaribbeanCanadians] #289078
09/26/2022 05:45 PM
09/26/2022 05:45 PM
Joined: Mar 2020
Posts: 306
Niagara Region Ontario Canada
Whale Tail Offline
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Whale Tail  Offline
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Posts: 306
Niagara Region Ontario Canada
Originally Posted by CaribbeanCanadians
We heard the news today, fantastic, way less stress. We are booked for eight weeks from mid December to mid February.
Now, if our CAD would go back up.


Oh ya that CDN $ situation is the worst now than last year. We are approaching 50 cents on the US dollar. So that resort rate of say $10,000 is actually $20,000 CDN. OUCH.

Last edited by Whale Tail; 09/26/2022 05:46 PM.
Re: As of Oct 1 2022 - Canada dropping all Covid-19 border restrictions [Re: Whale Tail] #289080
09/26/2022 06:32 PM
09/26/2022 06:32 PM
Joined: Mar 2009
Posts: 16,650
Auburn, WA
SXMScubaman Online content
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SXMScubaman  Online Content
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Posts: 16,650
Auburn, WA
Good for us.👍But I don't think its at that rate. More like around 70%.

Re: As of Oct 1 2022 - Canada dropping all Covid-19 border restrictions [Re: SXMScubaman] #289082
09/26/2022 07:34 PM
09/26/2022 07:34 PM
Joined: Mar 2020
Posts: 306
Niagara Region Ontario Canada
Whale Tail Offline
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Whale Tail  Offline
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Posts: 306
Niagara Region Ontario Canada
Originally Posted by SXMScubaman
Good for us.👍But I don't think its at that rate. More like around 70%.


Not so Scubaman. The rate today was $1US = $1.37CDN which means our dollar is worth .63 cents US. But that is Prime Rate that the banks pay to exchange currency with the Bank of Canada
But when it comes to us regular folks to exchange currency with our banks or currency exchange companies, they add up to 10% for their service which means I'm getting 53 cents on the dollar today. So, if you're willing to exchange some of your US dollars at 70% we need to talk grin

Re: As of Oct 1 2022 - Canada dropping all Covid-19 border restrictions [Re: Whale Tail] #289083
09/26/2022 08:06 PM
09/26/2022 08:06 PM
Joined: Nov 2009
Posts: 918
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CrazyCanuxx Offline
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Hello/bonjour,

Charlies Currency Exchange in downtown Vancouver (827 Granville St) posts cad/usd is $0.7231 at this moment, live rates . Charliescurrency.com

and knightbridgefx states $0.7303 at this very moment. Though caveat, live rates require an email. knightbridgefx.com.

For more tears, the forcast isn't any better for the near future.


safe travels

CC

Re: As of Oct 1 2022 - Canada dropping all Covid-19 border restrictions [Re: Whale Tail] #289084
09/26/2022 08:06 PM
09/26/2022 08:06 PM
Joined: Mar 2009
Posts: 16,650
Auburn, WA
SXMScubaman Online content
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SXMScubaman  Online Content
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Joined: Mar 2009
Posts: 16,650
Auburn, WA
Best to use your credit cards for best rate.

Re: As of Oct 1 2022 - Canada dropping all Covid-19 border restrictions [Re: SXMScubaman] #289085
09/26/2022 08:34 PM
09/26/2022 08:34 PM
Joined: Mar 2020
Posts: 306
Niagara Region Ontario Canada
Whale Tail Offline
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Whale Tail  Offline
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Posts: 306
Niagara Region Ontario Canada
Originally Posted by SXMScubaman
Best to use your credit cards for best rate.


Nope Scuba that doesn't work either. If you use a CDN credit card on island you are charged the current exchange rate plus 3/4% for this service so it is better to have US account here to draw on and at least save 3/4%.

Re: As of Oct 1 2022 - Canada dropping all Covid-19 border restrictions [Re: Whale Tail] #289088
09/26/2022 09:20 PM
09/26/2022 09:20 PM
Joined: Mar 2009
Posts: 16,650
Auburn, WA
SXMScubaman Online content
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SXMScubaman  Online Content
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Joined: Mar 2009
Posts: 16,650
Auburn, WA
Better get a no fee card unless it's not available in Canada.

Re: As of Oct 1 2022 - Canada dropping all Covid-19 border restrictions [Re: Whale Tail] #289089
09/26/2022 10:47 PM
09/26/2022 10:47 PM
Joined: Nov 2009
Posts: 918
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CrazyCanuxx Offline
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CrazyCanuxx  Offline
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Joined: Nov 2009
Posts: 918
Originally Posted by Whale Tail
Originally Posted by SXMScubaman
Best to use your credit cards for best rate.


Nope Scuba that doesn't work either. If you use a CDN credit card on island you are charged the current exchange rate plus 3/4% for this service so it is better to have US account here to draw on and at least save 3/4%.



Yes Scuba, we do have no fee cards. So there are two options to Canadians.

And many credit cards (I have three both MC and Visa) charge their current exchange rate plus 2.5% on usd . We do have usd dollar credit cards such as at TD bank, etc. https://www.td.com/ca/en/personal-banking/products/credit-cards/us-dollar/us-dollar-visa-card/ (39$ usd per year) TD U.S. Dollar Visa* Card Make purchases in U.S. Dollars without credit card foreign currency conversion fees

Either way, we are at the losing end, but we are a modern society with modern solutions... for those of us with google and time on our hands.

Re: As of Oct 1 2022 - Canada dropping all Covid-19 border restrictions [Re: CrazyCanuxx] #289090
09/27/2022 06:19 AM
09/27/2022 06:19 AM
Joined: Jan 2004
Posts: 831
Mississauga, ON, Canada
Southshore Offline
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Southshore  Offline
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Posts: 831
Mississauga, ON, Canada
Just in case you plan to carry US cash with you to SXM, get it from an ATM machine rather than over the counter. Most banks - I know mine does - give a more favorable rate at the ATM because they don't have to handle it "in person". Or ask a bank employee/retiree to buy it or you - we get a break on the rates.

Last edited by Southshore; 09/27/2022 06:21 AM.
Re: As of Oct 1 2022 - Canada dropping all Covid-19 border restrictions [Re: Whale Tail] #289095
09/27/2022 10:24 AM
09/27/2022 10:24 AM
Joined: Jul 2012
Posts: 264
Edam, Saskatchewan - Canada
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PrairieGirl Offline
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Edam, Saskatchewan - Canada
Originally Posted by Whale Tail
Originally Posted by SXMScubaman
Good for us.👍But I don't think its at that rate. More like around 70%.


Not so Scubaman. The rate today was $1US = $1.37CDN which means our dollar is worth .63 cents US.


Whale Tail, you are making a very common mistake here when it comes to calculating currency exchange. Many people think this way - "oh, it costs $1.20cdn to buy a us $ so the rate is 80 cents, if it's $1.37 it's 63 cents, etc" where they simply subtract the extra amount from $1.00 and call it the rate.

The proper conversion is to DIVIDE us/cdn as in $1.00/$1.37 = .7299 or 73 cents, $1.00/1.20 = .8333 or 83 cents, etc. If you still are unsure, remember that math ALWAYS works both ways. The reverse is to MULTIPLY cdn x us. So at a 73 cent dollar, it takes $1.37 cdn to = $1 us
( $1.37 x .73 = $1.00)

So while the exchange rate is getting worse for us Canuks, it's not quite a bad as you think (thank goodness!)


LeAnn

url=https://www.tickerfactory.com][Linked Image][/url]
Re: As of Oct 1 2022 - Canada dropping all Covid-19 border restrictions [Re: PrairieGirl] #289098
09/27/2022 01:24 PM
09/27/2022 01:24 PM
Joined: Sep 2017
Posts: 194
Toronto, Canada
CanuckTravlr Offline
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CanuckTravlr  Offline
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Posts: 194
Toronto, Canada
@PrairieGirl This is where I wish there was a "like" button. Thank you for that explanation. I agree that it's a very common error, and you just saved me the time from drafting my own response!! Unfortunately, as you say, it will definitely cost more this year for all of us Canucks to stay in SXM or anywhere else that US dollars are used!!

Last edited by CanuckTravlr; 09/27/2022 01:25 PM.
Re: As of Oct 1 2022 - Canada dropping all Covid-19 border restrictions [Re: Dr Phil SXM] #289102
09/27/2022 01:54 PM
09/27/2022 01:54 PM
Joined: Mar 2020
Posts: 306
Niagara Region Ontario Canada
Whale Tail Offline
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Whale Tail  Offline
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Posts: 306
Niagara Region Ontario Canada
PrairieGirl
I like your math and still trying to wrap my head around it but with your calculations I think you are assuming that I can buy US dollars at the current banking prime exchange rate without including the mark up that the banks and currency exchange companies charge. While I was at our local mall today, I checked with CIBC and Continental Currency Exchange and the current market still has the dollar at $1 US = $1.3744 CDN. This is what they would charge me at CIBC $1 US = $1.438 CDN and Continental $1 US = $1.3965 CDN. So, I may have overestimated at first, but the numbers are still bad. So, if I needed $10,000 US for example, I would have to pay $14,380. CDN at CIBC. That's the math I'm having a hard time with. But thanks for your input.

Re: As of Oct 1 2022 - Canada dropping all Covid-19 border restrictions [Re: Dr Phil SXM] #289104
09/27/2022 02:26 PM
09/27/2022 02:26 PM
Joined: May 2006
Posts: 517
Edmonton, Alberta, Canada
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KGB Offline
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Joined: May 2006
Posts: 517
Edmonton, Alberta, Canada
Oh guys- multiply or divide- we are getting screwed here in Canada, lol! I remember 2007-2008 when the loonie was at par with the green buck! I felt like a king, lol!
Ok now back to the grind to make some money…


"Often Wrong, Never in Doubt"
Re: As of Oct 1 2022 - Canada dropping all Covid-19 border restrictions [Re: Dr Phil SXM] #289105
09/27/2022 05:51 PM
09/27/2022 05:51 PM
Joined: Jul 2012
Posts: 264
Edam, Saskatchewan - Canada
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PrairieGirl Offline
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Edam, Saskatchewan - Canada
@Whale Tail - the Cdn $ has taken a substantial hit in the last two days, but you can do much better than that CIBC rate! At any financial institution, the over the counter rate is always inflated because there is a risk element between when they exchange the $$ for you and then for themselves. And of course labour expense and a profit element.

My credit union has an online buy/sell platform through Concentra Financial where you do everything yourself electronically in real time. I just checked the spot rate minutes ago on $10,000 usd. It was 1.3769 or .7262 so very little markup.

If you regularly deal in FX, you should see if you can get registered with someone's version of an online trading platform!

Last edited by PrairieGirl; 09/27/2022 05:51 PM.

LeAnn

url=https://www.tickerfactory.com][Linked Image][/url]
Re: As of Oct 1 2022 - Canada dropping all Covid-19 border restrictions [Re: Southshore] #289106
09/27/2022 06:46 PM
09/27/2022 06:46 PM
Joined: Jan 2018
Posts: 27
Ontario.
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Billtjw Offline
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Ontario.
Best rate is at an RBC ATM that dispenses US cash , if you bank with RBC that is.

Re: As of Oct 1 2022 - Canada dropping all Covid-19 border restrictions [Re: Dr Phil SXM] #289107
09/27/2022 07:30 PM
09/27/2022 07:30 PM
Joined: Mar 2009
Posts: 16,650
Auburn, WA
SXMScubaman Online content
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SXMScubaman  Online Content
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Joined: Mar 2009
Posts: 16,650
Auburn, WA
This sure morphed into an exchange rate discussion instead of the original post.

Re: As of Oct 1 2022 - Canada dropping all Covid-19 border restrictions [Re: SXMScubaman] #289108
09/27/2022 08:25 PM
09/27/2022 08:25 PM
Joined: Mar 2001
Posts: 16,833
Ohio
ruralcarrier Offline
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And a good place to end this and get back on track.


J.D.

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